General overview for 30/01/2015 12:15 CET
As it was anticipated yesterday the wave progression to the upside continue,s and the price is about to hit the projected target area at the level of 1.2698. Moreover, there is still a possibility that the upward wave progression will get extended and the next projected target zone in the shape of an orange rectangle between the levels of 1.2769 – 1.2790 might get hit. Please notice the momentum is still diverging from the price and the correction to the downside is imminent.
Support/Resistance:
1.2769 – 1.2790 – Extended Target Projection
1.2698 – WR1
1.2676 – Local High|Intraday Resistance|
1.2604 – Intraday Support
Trading recommendations:
Buy orders from yesterday should be still kept open as the market approaches the TP at the level of 1.2698. A target extension to the 1.2769 – 1.2709 area is still possible.
Sebastian Seliga is taking part in the “Analyst of the Year” award organized by MT5.com portal. If you like his article, please vote for him.
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Performed by Sebastian Seliga, Analytical expert InstaForex Group © 2007-2015 |
Technical analysis of USD/CAD for January 30, 2015
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